Siemens Fonds Invest GmbH Lowers Position in Arista Networks, Inc. (NYSE:ANET)

Siemens Fonds Invest GmbH trimmed its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 93.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 717 shares of the technology company's stock after selling 10,161 shares during the quarter. Siemens Fonds Invest GmbH's holdings in Arista Networks were worth $79,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ANET. Gateway Investment Advisers LLC lifted its position in shares of Arista Networks by 361.6% during the fourth quarter. Gateway Investment Advisers LLC now owns 6,781 shares of the technology company's stock valued at $750,000 after buying an additional 5,312 shares during the last quarter. Merit Financial Group LLC lifted its position in shares of Arista Networks by 863.1% during the fourth quarter. Merit Financial Group LLC now owns 24,242 shares of the technology company's stock valued at $2,679,000 after buying an additional 21,725 shares during the last quarter. Lake Street Private Wealth LLC purchased a new stake in shares of Arista Networks during the fourth quarter valued at about $224,000. Arkadios Wealth Advisors lifted its position in shares of Arista Networks by 422.8% during the fourth quarter. Arkadios Wealth Advisors now owns 12,039 shares of the technology company's stock valued at $1,331,000 after buying an additional 9,736 shares during the last quarter. Finally, Premier Path Wealth Partners LLC lifted its position in shares of Arista Networks by 294.4% during the fourth quarter. Premier Path Wealth Partners LLC now owns 8,585 shares of the technology company's stock valued at $949,000 after buying an additional 6,408 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $90.07, for a total value of $7,205,600.00. Following the sale, the senior vice president now owns 12,976 shares of the company's stock, valued at approximately $1,168,748.32. This trade represents a 86.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Marc Taxay sold 51,848 shares of Arista Networks stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total transaction of $4,593,214.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 410,867 shares of company stock valued at $37,056,669. 3.39% of the stock is owned by company insiders.

Arista Networks Price Performance

Shares of NYSE ANET opened at $96.31 on Monday. The stock has a market capitalization of $120.95 billion, a price-to-earnings ratio of 43.38, a PEG ratio of 3.10 and a beta of 1.38. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $133.58. The firm's 50 day simple moving average is $80.29 and its 200-day simple moving average is $97.20.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.59 by $0.06. The business had revenue of $2 billion for the quarter, compared to analysts' expectations of $1.97 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The business's revenue was up 27.6% on a year-over-year basis. During the same quarter last year, the company earned $0.50 EPS. Analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks announced that its Board of Directors has initiated a stock repurchase program on Tuesday, May 6th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the technology company to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. The Goldman Sachs Group decreased their price objective on shares of Arista Networks from $130.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Barclays decreased their price objective on shares of Arista Networks from $126.00 to $119.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Needham & Company LLC reaffirmed a "buy" rating and issued a $130.00 price objective on shares of Arista Networks in a research report on Thursday. Erste Group Bank lowered shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 17th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $107.14.

Arista Networks Profile

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.

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